Zuckerberg Grilled by Senate Members About “Libra”

It seems Facebook has got everyone in the U.S. Senate a little worried.What Is Facebook’s Libra All About?Recently, Facebook announced the development of its new “Libra” project. reported on this just a few days ago. The project is a cryptocurrency payments platform that would allow consumers everywhere who have Facebook accounts to use the company’s ongoing cryptocurrency Facebook Coin to purchase goods and services not just through the social media company, but through other merchants that offer Facebook login pages.This suggests many things: it suggests that Facebook recognizes cryptocurrency as a growing and mainstream asset class and doesn’t want to miss out on potential business or profit. The company has recently backtracked on its crypto ad ban, saying that many companies that once needed permission would be able to post crypto and blockchain-related ads without begging and pleading.At the same time, it also suggests that Facebook is trying to branch…

Read the original article here